PDD Holdings Inc. Sponsored ADR $PDD Stake Raised by Leonteq Securities AG

Leonteq Securities AG boosted its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 1,164.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 99,141 shares of the company’s stock after acquiring an additional 91,298 shares during the quarter. Leonteq Securities AG’s holdings in PDD were worth $10,130,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Focus Partners Wealth boosted its holdings in shares of PDD by 352.8% during the first quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock worth $1,176,000 after purchasing an additional 7,744 shares during the period. Intech Investment Management LLC increased its stake in PDD by 2.7% in the 1st quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock valued at $1,762,000 after buying an additional 395 shares during the period. EverSource Wealth Advisors LLC lifted its position in PDD by 62.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the company’s stock worth $174,000 after buying an additional 637 shares in the last quarter. Cerity Partners LLC lifted its position in PDD by 2.0% in the 2nd quarter. Cerity Partners LLC now owns 19,696 shares of the company’s stock worth $2,061,000 after buying an additional 382 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of PDD by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 142,498 shares of the company’s stock valued at $14,914,000 after buying an additional 369 shares during the period. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PDD shares. Nomura cut shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. BNP Paribas Exane started coverage on PDD in a report on Monday, June 15th. They set an “underperform” rating and a $89.00 price objective for the company. Morgan Stanley set a $129.00 target price on PDD in a research note on Wednesday, May 27th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of PDD in a research report on Thursday, May 28th. Finally, Arete Research raised PDD from a “neutral” rating to a “buy” rating and set a $121.00 price target for the company in a research note on Friday, April 17th. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $124.64.

PDD Stock Down 0.2%

PDD stock opened at $82.39 on Friday. The firm has a 50 day moving average of $88.91 and a two-hundred day moving average of $99.65. PDD Holdings Inc. Sponsored ADR has a 12 month low of $71.94 and a 12 month high of $139.41. The company has a market capitalization of $117.27 billion and a price-to-earnings ratio of 8.90.

PDD (NASDAQ:PDD) last released its quarterly earnings results on Wednesday, May 27th. The company reported $1.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.40 by ($1.02). The business had revenue of $15.41 billion for the quarter, compared to the consensus estimate of $15.92 billion. PDD had a net margin of 21.86% and a return on equity of 24.32%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.57 EPS. On average, research analysts expect that PDD Holdings Inc. Sponsored ADR will post 9.7 EPS for the current fiscal year.

PDD Company Profile

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.